Pension Insurance Corporation's (PIC) investment portfolio rose to £46.8bn in 2023, up from £41.2bn a year earlier, its latest financial results have shown.
A total of £29bn was invested in the UK as at year end 2023, with the insurer also investing £1.6bn in privately sourced UK debt investments during the year. Furthermore, a total of £13bn in UK infrastructure was also invested.
A year-end solvency ratio of 211 per cent was recorded, and during the first two months of 2024, PIC completed £1.5bn of new business, with an industry pipeline of £50bn expected to complete this year.
PIC CEO Tracy Blackwell said: “PIC is well positioned to fulfil its purpose, which is to pay the pensions of its current and future policyholders, as well as to play a leading role in the future growth of the UK pension risk transfer market.”
This article originally appeared on our sister title, Insurance Asset Management.
Latest News
-
Incentives for domestic pension investment more effective than ‘blunt thresholds’
-
'Fundamentally flawed' SSAS transfer red flag ‘unlikely to work as intended’
-
Managing surplus gaining in popularity but barriers to endgame persist
-
Pension risk transfer volumes expected to reach up to £40bn in 2026
-
Greater choice ‘yet to drive’ adoption of new endgame routes
-
News in brief - 17 July 2026
CDC in the UK pensions market
Pensions Age editor, Laura Blows, talks to Sophie Dapin, Director, Institutional Solutions EMEA at BlackRock, and host of BlackRock’s Rewiring Retirement podcast, about the growing interest in collective DC in the UK pensions market
Podcast: From pension pot to flexible income for life
Podcast: Who matters most in pensions?
In the latest Pensions Age podcast, Francesca Fabrizi speaks to Capita Pension Solutions global practice leader & chief revenue officer, Stuart Heatley, about who matters most in pensions and how to best meet their needs
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories